No I don't think so because when you talk about football it depends on the country's priority if they are interested in investing in football or not there are lot of poor countries even in Europe that are doing well in sports because they have given priority to sports.
I agree with you. Latin american countries are poor and still manage to deliver skilled soccer players to their national teams and clubs around the world, including the european ones. It means soccer is a priority for citizens from those countries since a very early age. They play soccer in a daily basis on the streets and on the schools.
Gym discipline, for an example, summarizes 100% in soccer matches at many elementary and high schools in Brazil. At same time, you have wealthy asian countries like Japan, which despite its efforts, has never achieved a remarkable global soccer title.